It's pretty common for our water here though.

More commonly known as the BRRRR strategy here on BP.

Just be transparent with your lender from the get-go so they know what your plan is, but it's very common to do it this way so shouldn't be any surprises. 

I’m looking into a 6 family in NJ that is on the market for 550k...the gross annual rents are $83,400...taxes are $14,489...insurance is $2,600...utilities about $2,000...repairs and maintenance about $5,000.

Deals are common like this where if your buying turnkey parks, your going to pay a lower cap rate, and get lower cash on cash return. 

Just like any other city, it has its issues but there are bidding wars on all decent properties in the area and that’s a common trend here.

These are some characteristics common to these guys that a list broker can use to build a buyer list for you: investors with multiple properties, people who purchased with Quit Claim Deeds and those who purchased from a distressed seller situation.

Looking at $300+ cash flow after budgeting for both maintenance and cap ex.

For example, many new investors forget or underestimate vacancy, maintenance and cap ex.

Are you looking for someone to do full-scale remodels/flips, or more just someone on call to do any necessary maintenance and repairs that come up?